Common use of Content of Annual Reports Clause in Contracts

Content of Annual Reports. (a) Each Annual Report shall contain Annual Financial Information with respect to the Issuer, including updates of the type of information identified in Exhibit D hereto, which is contained in the indicated tables in the Official Statement. (b) Audited Financial Statements will be included in the Annual Report. If audited financial statements are not available, then, unaudited financial statements, prepared in accordance with GAAP will be included in the Annual Report. In such event, Audited Financial Statements (if any) will be provided pursuant to Section 2(d). Any or all of the items listed above may be included by specific reference from other documents, including official statements of debt issues with respect to which the Issuer is an “obligated person” (as defined by the Rule), which have been previously filed with the Securities and Exchange Commission or available on the MSRB Internet Website. If the document incorporated by reference is a final official statement, it must be available from the MSRB. The Issuer will clearly identify each such document so incorporated by reference. If the Annual Financial Information contains modified operating data or financial information different from the Annual Financial Information agreed to in the continuing disclosure undertaking related to the Certificates, the Issuer is required to explain, in narrative form, the reasons for the modification and the impact of the change in the type of operating data or financial information being provided.

Content of Annual Reports. (a) Each Annual Report shall contain Annual Financial Information with respect to the Issuer, including updates of the type of information identified in Exhibit D hereto, which is contained in the indicated tables in the Official Statement. (b) Audited Financial Statements will be included in the Annual Report. If audited financial statements are not available, then, unaudited financial statements, prepared in accordance with GAAP will be included in the Annual Report. In such event, Audited Financial Statements (if any) will be provided pursuant to Section 2(d). Any or all of the items listed above may be included by specific reference from other documents, including official statements of debt issues with respect to which the Issuer is an “obligated person” (as defined by the Rule), which have been previously filed with the Securities and Exchange Commission or available on the MSRB Internet Website. If the document incorporated by reference is a final official statement, it must be available from the MSRB. The Issuer will clearly identify each such document so incorporated by reference. If the Annual Financial Information contains modified operating data or financial information different from the Annual Financial Information agreed to in the continuing disclosure undertaking related to the CertificatesBonds, the Issuer is required to explain, in narrative form, the reasons for the modification and the impact of the change in the type of operating data or financial information being provided.

Content of Annual Reports. (a) Each Annual Report shall contain Annual Financial Information with respect to the Issuer, including updates of the type of information identified in Exhibit D hereto, which is contained in the indicated tables provided in the Official StatementStatement under the headings: [11] . (ba) [12] Audited Financial Statements as described in the Official Statement will be included in the Annual Report. If audited financial statements are not available, then, then unaudited financial statements, prepared in accordance with [GAAP OR alternate accounting principles] as described in the Official Statement will be included in the Annual Report. In such event, Audited Financial Statements (if any) will be provided pursuant to Section 2(d). Any or all of the items listed above may be included by specific reference from other documents, including official statements of debt issues with respect to which the Issuer is an “obligated person” (as defined by the Rule), which have been previously filed with the Securities and Exchange Commission or available on the MSRB Internet Website. If the document incorporated by reference is a final official statement, it must be available from the MSRB. The Issuer will clearly identify each such document so incorporated by reference. If the Annual Financial Information contains modified operating data or financial information different from the Annual Financial Information agreed to in the continuing disclosure undertaking related to the CertificatesBonds, the Issuer is required to explain, in narrative form, the reasons for the modification and the impact of the change in the type of operating data or financial information being provided.

Content of Annual Reports. (a) Each Annual Report shall contain Annual Financial Information with respect to the Issuer, including updates of the type of financial and statistical information identified in Exhibit D hereto, which is contained in the indicated tables provided in the Official StatementStatement under the headings: [8]_ . (ba) [9] Audited Financial Statements as described in the Official Statement will be included in the Annual Report. If audited financial statements are not available, then, then unaudited financial statements, prepared in accordance with GAAP Generally Accepted Accounting Principles as described in the Official Statement will be included in the Annual Report. In such event, Audited Financial Statements (if any) will be provided pursuant to Section 2(d). Any or all of the items listed above may be included by specific reference from other documents, including official statements of debt issues with respect to which the Issuer is an “obligated person” (as defined by the Rule), which have been previously filed with the Securities and Exchange Commission or available on the MSRB Internet Website. If the document incorporated by reference is a final official statement, it must be available from the MSRB. The Issuer will clearly identify each such document so incorporated by reference. If the Annual Financial Information contains modified operating data or financial information different from the Annual Financial Information agreed to in the continuing disclosure undertaking related to the CertificatesBonds, the Issuer is required to explain, in narrative form, the reasons for the modification and the impact of the change in the type of operating data or financial information being provided.

Content of Annual Reports. (a) Each Annual Report shall contain Annual Financial Information with respect to the IssuerObligated Person, including updates of the type of financial and statistical information identified in Exhibit D hereto, which is contained in the indicated tables provided in the Official StatementStatement under the headings: [8] . (b) [9] Audited Financial Statements as described in the Official Statement will be included in the Annual Report. If audited financial statements are not available, then, unaudited financial statements, prepared in accordance with GAAP Generally Accepted Accounting Principles as described in the Official Statement will be included in the Annual Report. In such event, Audited Financial Statements (if any) will be provided pursuant to Section 2(d). Any or all of the items listed above may be included by specific reference from other documents, including official statements of debt issues with respect to which the Issuer Obligated Person is an “obligated person” (as defined by the Rule), which have been previously filed with the Securities and Exchange Commission or available on the MSRB Internet Website. If the document incorporated by reference is a final official statement, it must be available from the MSRB. The Issuer Obligated Person will clearly identify each such document so incorporated by reference. If the Annual Financial Information contains modified operating data or financial information different from the Annual Financial Information agreed to in the continuing disclosure undertaking related to the CertificatesBonds, the Issuer Obligated Person is required to explain, in narrative form, the reasons for the modification and the impact of the change in the type of operating data or financial information being provided.